Austrian explosion hits European gas markets

For illustration purposes only (Image courtesy of Gas Connect Austria)

An explosion on Tuesday morning at the major European gas hub at Baumgarten in Austria killed one person and injured 18 others, causing a surge in Austrian, Italian and the UK gas prices.

Italy has also reportedly declared a state of emergency due to a lack of gas supplies.

The Baumgarten plant was shut down in “a controlled state and is offline,” according to Gas Connect Austria, which operates the Baumgarten site.

Gas Connect Austria said the fire, which started after the explosion occurred at 9:00 am local time at the Baumgarten site had been brought under control.

Images showed huge flames rising out of the plant – situated northeast of the Austrian capital Vienna.

Baumgarten is the key entry point for Russian gas into Austria and onward to Italy.

Slovakia’s main gas transit route to Austria was also suspended after the fire, Slovak pipeline operator Eustream said.

Russia’s Gazprom Export said it was working “on redistribution of gas flows and does its best to secure uninterrupted gas supplies to the clients on this transport direction.”

Front-month gas in the UK rose as much as 23% to 73.7 pence a therm ($9.86 a million British thermal units) on ICE Futures Europe.

The Italian wholesale day-ahead price surged 97% to a record high of 47 euros per megawatt-hour.

 

LNG World News Staff

 

Share this article

Follow LNG World News

Posted on December 12, 2017 with tags .

Events>

<< Jan 2020 >>
MTWTFSS
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31 1 2

LNG Pricing, Trading & Hedging: 3-Day Training Course – London / Mar 2020

This three-day training program provides a unique opportunity to learn and apply the practical skills…

read more >

American LNG Forum 2020

The American LNG Forum is your gateway to learning about the US LNG export industry,

read more >

2nd Global LNG Forum

Global LNG Forum is an exclusive networking and knowledge-sharing platform for top experts and business leaders in the industry.

read more >

LNG Pricing, Trading & Hedging: 3-Day Training Course – Houston / Feb 2020

This three-day training program provides a unique opportunity to learn and apply the practical skills, knowledge and tools needed to:…

read more >